Formally, this is an open immersion factoring through A2→D+(T3)≅Spec(k[T0,T1,T2,T3]T3,0)≅Spec(k[T0/T3,T1/T3,T2/T3]) (the 0 meaning degree zero as usual), corresponding to a map on sections T0/T3↦x and T1/T3↦y and T2/T3↦1. By niceness of pullbacks, we can compute f∗OY(1) on V=D+(T3) (say) with U=f−1(V)=X to get that f∗OY(1) is the quasicoherent tilde (on A2=Speck[x,y], which is affine) of k[x,y]⊗k[T0/T3,T1/T3,T2/T3]T3⋅k[T0/T3,T1/T3,T2/T3], with f∗T0 corresponding to the tensor 1⊗T3⋅(T0/T3)=x⊗T3 by the definition T0/T3↦x. Similarly, f∗T1 corresponds to y⊗T3, and f∗T2 corresponds to 1⊗T3. Of course, there is no harm in dropping the "⊗T3" if we identify k[x,y]⊗k[T0/T3,T1/T3,T2/T3]T3⋅k[T0/T3,T1/T3,T2/T3]≅k[x,y].
Alternatively, we can choose L to be OX (free of rank one, so certainly invertible) with (s0,s1,s2,s3)=(x,y,1,1), which by the general theory (see e.g. Qing Liu reference above) defines a map f:A2→P3 with si=f∗Ti.